Reed's (REED) Announces $7.9 Million Registered Direct Offering

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Reed’s Inc. Announces $7.9 Million Registered Direct Offering

May 5, 2021 8:00 AM EDT

NORWALK, Conn., May 05, 2021 (GLOBE NEWSWIRE) -- Reeds Inc. (Nasdaq: REED), owner of the nations leading portfolio of handcrafted, all-natural beverages, today announced that it has entered into a stock purchase agreement relating to a registered direct offering in which the Company would sell up to 6,680,000 shares of its common stock at a price of $1.18 per share for gross proceeds of approximately $7.9 million.

Roth Capital Partners, served as sole placement agent for the transaction. After the placement agent fees and estimated offering expenses payable by the Company, the Company expects to... More